Is the jewelry business a bad business to get into?

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Im looking at making a website about bracelets. I look at whats selling on Amazon and find the wholesale product on Alibaba, but the ones on Alibaba are like $2 less than amazon. Plus I have to pay shipping. After doing work and the risk, I might make $1 per sale.
I dont think its even worth it to do all that work for $1.

Is the jewelry industry like that, all low margins? Or is it just bracelets that are bad?
Im feeling defeated before I even started lol
#bad #business #jewelry
  • Profile picture of the author GforceSage
    You need to sell custom jewelry/bracelets, one of a kind pieces. If you sell what everyone else is, then everyone is trying to undercut each others prices. Isn't your time worth more than a buck per sale?
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  • I think jewelry is competitive, which can make it a difficult industry, but not necessarily 'bad.' Yes, I agree that you should look for custom pieces. Are you planning on manufacturing, or are you a jewelry maker yourself?

    Are you interested in jewelry personally? Having a real passion for and knowledge of what you sell will help you differentiate. Your product descriptions will be more detailed, your site will convey authority in the industry and your social media marketing will communicate an excitement about your products that will entice social followers to take a look. Don't be discouraged! Be confident, make well-researched choices when buying products and building your site, and let your audience know that you will give them the best products possible.

    Good luck to you, keep us posted.

    Tiana with ecomdash
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  • Profile picture of the author sweetcrabhoney18
    Look up selling jewelry on etsy. The key is a high profit margin until you are bringing in enough sales to cover the overhead.

    Custom jewelery is the best... I.e Guitar picks with names stamped on them. Don't forget men like jewelry too.

    You need to know your cost to the thread so do a lot of math.

    Good luck!
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    keep moving forward

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  • Profile picture of the author Importexport
    Originally Posted by ecomguy View Post

    Im looking at making a website about bracelets. I look at whats selling on Amazon and find the wholesale product on Alibaba, but the ones on Alibaba are like $2 less than amazon. Plus I have to pay shipping. After doing work and the risk, I might make $1 per sale.
    I dont think its even worth it to do all that work for $1.

    Is the jewelry industry like that, all low margins? Or is it just bracelets that are bad?
    Im feeling defeated before I even started lol
    Your first and biggest problem is that you are most likely dealing with traders or wholesalers on Alibaba.

    There are thousands of wholesalers there masquerading as manufacturers, but you won't get real ex-factory prices from them because they buy from the manufacturers, add a huge margin and then sell to you.

    I teach how to find real manufacturers, firstly by using safe sites, not Alibaba and others like it. Second, you need to use safe sourcing methods and very few people understand how to do that, they just talk about "due diligence."

    One of my book readers emailed me yesterday and said: ".....I really like XXX.com. They have unique products." That could be the key to success for you. If you source from Alibaba you will be searching in the same place as every man and his dog.

    You won't find unique, high margin products that way. Think outside the box.
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    Use emotions and perceptions to build a great brand. Ask me about my book LabelsThatExploit. For safe sourcing and easy importing from 41 countries globally, see https://provenglobalsourcing.com
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